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SB2079 SD1     
Measure Title: RELATING TO TAXES.
Report Title: Taxes; Withholding; Motion Picture, Digital Media, And Film Production Income Tax Credit; Tax Administration Special Fund; Department of Business, Economic Development, and Tourism; Department of Taxation
Description: Establishes a general excise tax withholding requirement on payments to loan-out companies for services performed in Hawaii for persons claiming the motion picture, digital media, and film production income tax credit (income tax credit). Requires taxpayers claiming the income tax credit to submit a sworn statement and verification review to the Department of Business, Economic Development, and Tourism (DBEDT) only if qualified production costs exceed $1,000,000. Requires reports by DBEDT to the Legislature on the income tax credit to identify the dollar amount claimed, name of company, and name of program claiming the credit. Extends the period during which excess income tax credits may be claimed to December 31, 2032. Requires qualified productions that claim the income tax credit to withhold a certain amount and remit that amount within thirty calendar days to the Department of Taxation (DOTAX) to the credit of the general excise tax account of the loan-out company. Amends the uses of the Tax Administration Special Fund. Allows DOTAX to establish four full-time equivalent tax auditor positions to examine claims for the income tax credit and other tax expenditures and to establish application processing fees. (SD1)
Companion:  HB1982
Package: None
Current Referral: EET, WAM
Introducer(s): WAKAI, KEITH-AGARAN, MISALUCHA, Dela Cruz, Inouye, Taniguchi
Act:

Sort by Date Status Text
2/1/2022SReport adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2/1/2022SReported from EET (Stand. Com. Rep. No. 2018) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
1/28/2022SThe committee(s) on EET recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in EET were as follows: 5 Aye(s): Senator(s) Wakai, Misalucha, Lee, Riviere, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
1/25/2022SThe committee(s) on EET has scheduled a public hearing on 01-28-22 3:00PM; Conference Room 224 & Videoconference.
1/21/2022SReferred to EET, WAM.
1/19/2022SIntroduced and passed First Reading.
1/18/2022SPending Introduction.

S = Senate | H = House | D = Data Systems | $ = Appropriation measure | ConAm = Constitutional Amendment

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SB2079 SD1
All Versions of this Measure
SB2079_SD1 Pdf File
SB2079 Pdf File

Committee Reports
SB2079_SD1_SSCR2018_ Pdf File

Testimony
SB2079_TESTIMONY_EET_01-28-22_

Hearing Notices
EET
1/28/22 3:00P
CR 224 & Videoconference
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